ml a t mination for Chapters 6-10 Help Seve&Ex Bramble Corporation is a small wholesaler 14 of gourmet food products Data regarding the store's operations follow Sales are budgeted at $270,000 for November, $250,000 for December, and $240,000 for January * Collections are expected to be 50% in the month of sale and 50% in the month following the sale. " The cost of goods sold is 75% of sales. company would like maintain endr g merchandise nventories equal to 65% of the next months cost of goods sold Payment for merchandise is made in the month following the purchase Other monthly expenses to be paid in cash are $23,300. Monthly depreciation is $14,300 . ignore taxes Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $573,98e accumulated depreciation Total assets s 21,98e 71,98e 131,625 1,895,9ee $1,321,325 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings s 255,9ee 821,900 243,525 K Prev 14 or 25 Next pe here to search